[luvbach1]

We wouldn’t be producing from the expensive shale fields if the prices were falling deep.

I can understand that high prices provide an incentive for shale production, but shouldn't the increased production from shale eventually reduce prices at the pump?

[thackney]

shouldn't the increased production from shale eventually reduce prices at the pump?

Oil is a globally priced commodity. We still depend upon a lot of oil imported to meet our domestic demand. And the global demand for oil continues to rise.